Two men jailed for defrauding vulnerable victims of over $6 million in property investment scheme
Courts in South Australia and London have jailed multiple fraudsters for separate schemes that collectively defrauded dozens of victims of millions of dollars and tens of thousands of pounds. The Australian case involved two men who lured primarily elderly victims into a fake property investment scheme worth over $6 million, while a London man scammed more than 30 renters out of £77,400 through a fictitious rental listing. The cases highlight the severe financial and emotional harm caused by fraud targeting vulnerable individuals, and the growing use of online platforms to perpetrate such crimes.
In South Australia, Andre Langos, 44, and Sam Smith, 58, were sentenced to eight and seven years in prison respectively after pleading guilty to multiple counts of aggravated deception for running a fraudulent property investment scheme between April 2019 and July 2020. The pair deceived five victims — four of whom were over 60 — into transferring more than $6 million, with the offending only ending after victims contacted lawyers and police. South Australian District Court Judge Anne Barnett described the impact as 'far-reaching and life-changing,' noting victims had been robbed of retirement savings accumulated over a lifetime. Both men will be eligible for parole in 2031, and no compensation order was made. In a separate case in London, Frederic Priestley, 34, was sentenced to two years and 11 months after defrauding over 30 prospective renters of £77,400 by falsely advertising a property on Facebook, collecting deposits and rent payments for a flat he never owned. Metropolitan Police noted that Priestley used convincing paperwork and false reassurances, and would later fabricate excuses — including family deaths — to avoid following through on agreements. A third fraud case reported by the Sydney Morning Herald involving a Queensland serial fraudster lacked sufficient detail for further analysis.
What's missing
In the Australian case, it is unclear what happened to the approximately $4.3 million gap between the total $6,043,000 transferred and the combined amounts the two men individually admitted to stealing ($893,000 and $1,768,000). The court's decision not to issue a compensation order is noted but not explained in detail.
What different sources said
- Sydney Morning HeraldCenter
Serial fraudster learns fate
- ABC AustraliaCenter
Fraudsters jailed for stealing millions from 'older and vulnerable' victims
Fraudster jailed after scamming London renters out of £77,000
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